DXD Capital breaks ground for new self-storage facility in Kihei | News, sports, jobs

DXD Capital broke ground Friday on a new 48,720-square-foot self-storage facility in Kihei. Courtesy image

The Maui News

KAHULUI-DXD Capital, a private equity investor in self-storage, announced Friday the groundbreaking of a new Class A storage facility in Kihei, according to a news release.

According to DXD Capital, the facility will have 357 individual storage units totaling 45,863 net rentable square feet, located in the Maui Research & Technology Park in Kihei.

The self-storage facility will feature drive-in, non-climate controlled units specifically designed to be especially useful to Maui’s commercial customer base. The facility is expected to open in the first quarter of 2025.

“DXD had the opportunity to build self-storage facilities on Maui through a local connection,” said Drew Dolan, director and fund manager. “For me, this opportunity represents a career highlight: an opportunity to be part of the thriving Maui Research and Tech Park, which has excellent foundations for self-storage and extreme barriers to entry.”

The property was acquired in April 2023 through DXD’s second fund, DXD Self Storage Fund II, which launched in June 2022 and has since invested in seven self-storage developments and one portfolio acquisition with seven facilities in the United States, it said company.

RYCON will serve as general contractor, and American Savings Bank was the construction lender. Extra Space will manage the facility, the groundbreaking announcement reads.

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